Cardinal Capital Management Has $1.33 Million Stock Position in Amcor plc (NYSE:AMCR)

Cardinal Capital Management grew its stake in shares of Amcor plc (NYSE:AMCR) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 117,094 shares of the company’s stock after buying an additional 1,478 shares during the quarter. Cardinal Capital Management’s holdings in Amcor were worth $1,327,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Riverview Trust Co acquired a new position in Amcor in the 1st quarter worth about $28,000. Rise Advisors LLC bought a new position in Amcor in the 3rd quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new stake in Amcor during the 3rd quarter worth approximately $35,000. Quent Capital LLC grew its holdings in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Trading Down 0.1 %

Shares of AMCR stock opened at $11.24 on Friday. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. The stock has a 50 day simple moving average of $11.09 and a two-hundred day simple moving average of $10.27. The company has a market cap of $16.25 billion, a P/E ratio of 24.98, a PEG ratio of 2.72 and a beta of 0.85.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. Amcor’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. Research analysts forecast that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMCR. JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday. Citigroup upped their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus initiated coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.78.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.